Brazil's Top Imports & Exports 2008
Brazilian Imports of Fuel Oil, Wheat and Railway Equipment Gain
Sep 27, 2009
Attaining a Gross Domestic Product (GDP) valued at US$1.573 trillion, Brazil was the world’s 10th richest country in 2008.
With a population of 198.7 million Brazilians who enjoyed an average GDP of $10,200 per person last year, Brazil was also the 101st wealthiest nation in terms of GDP per capita.
As the world’s 22nd biggest exporter, Brazil shipped $197.9 billion worth of exports in 2008. Principal Brazilian exports include automobiles, coffee, footwear, iron, soybeans and transport equipment. Based on 2008 statistics, Brazil’s largest export clients were the United States (14.6%), China (11.5%), Argentina (8.6%), Netherlands (4.9%) and Germany (4.5%).
According to the CIA World Factbook, Brazil imported $171.3 billion worth of foreign goods last year including automotive parts, chemicals, electronics, machinery and transport products. Leading suppliers to the Brazilian market were the United States (14.9%), China (11.6%), Argentina (7.9%) and Germany (7%).
In total, Brazil’s international trade amounted to $369.2 billion or 23.5% of its overall GDP. This compares with roughly 25% for the U.S. and 60% for Canada.
Brazilian Trade with the U.S.
Last year, Brazilian exports to America rose 18.8% to $30.5 billion. Over that same period, Brazilians consumed $32.3 billion worth of U.S. imports – an increase of 33.6%.
Therefore, Brazil’s trade deficit with the U.S. came to $1.8 billion in 2008.
The lists below present the top 10 exports and imports that American and Brazilian enterprises exchanged in 2008. The fastest-growing trade product categories are also shown.
Brazil’s Top Exports to America
Each of Brazil’s top 3 export product categories to the U.S. generated multi-billion dollars in 2008. Crude oil, unmanufactured steelmaking materials and civilian aircraft account for over 41% of Brazil’s total exports to the U.S.
- Crude oil … US$30.5 billion, up 108.7% from 2007 (25.8% of US imports from Brazil)
- Unmanufactured steelmaking materials … $2.5 billion, up 66.3% (8.2%)
- Civilian aircraft … $2.2 billion, up 33.6% (7.3%)
- Semi-finished iron and steel products … $962.4 million, down 22.8% (3.2%)
- Pulpwood … $857.7 million, up 25.7% (2.8%)
- Automobile engines … $761.4 million, up 8.5% (2.5%)
- Green coffee … $724.3 million, up 18% (2.4%)
- Other petroleum products … $702.1 million, up 2.4% (2.31%)
- Industrial engines and generators … $694 million, up 100.8% (2.28%)
- Other automotive parts … $679.7 million, down 14.1% (2.2%).
Fastest-Growing Brazilian Exports to the U.S.
Despite initiatives to find cleaner fuel sources for American businesses, coal was Brazil’s fastest-growing shipment to the U.S. last year. While 4 other export categories enjoyed triple-digit gains, the other export product categories from Brazil experienced more subdued gains. This suggests that Brazilian exports to the U.S. are strongly concentrated on a select group of goods like coal and crude oil where Brazil has significant competitive advantages.
- Coal … US$296.7 million, up 3,103% from 2007
- Collectibles (antiques, artwork, stamps) … $33.5 million, up 141.7%
- Pharmaceutical preparations … $56.1 million, up 113.7%
- Crude oil … $30.5 billion, up 108.7%
- Industrial engines and generators … $694 million, up 100.8%
- Gem diamonds … $17 million, up 92.8%
- Miscellaneous non-ferrous metals … $246.7 million, up 82.2%
- Unmanufactured steelmaking materials … $2.5 billion, up 66.3%
- Synthetics (rubber, wood, cork, resins) … $102.2 million, up 54.2%
- Industrial inorganic chemicals … $301.7 million, up 46.9%.
Brazil’s Top Imports from America
Below are the top 10 goods that Brazil imported from the U.S. during 2008.
- Civilian aircraft … US$5.5 billion, up 22.6% from 2007 (17% of US exports to Brazil)
- Organic chemicals … $2 billion, up 24.2% (6.1%)
- Computer accessories… $1.8 billion, up 8.6% (5.7%)
- Plastic materials … $1.5 billion, up 41% (4.7%)
- Telecommunications equipment … $1.2 billion, up 70% (3.7%)
- Chemical fertilizers … $1.1 billion, up 16.6% (3.4%)
- Semiconductors … $876.8 million, up 38.2% (2.71%)
- Metallurgical grade coal … $862.6 million, up 52.4% (2.67%)
- Pharmaceutical preparations … $775.9 million, up 23% (2.4%)
- Other petroleum products … $772.9 million, up 64.8% (2.39%).
Fastest-Growing Brazilian Imports from the U.S.
Highly diversified both in terms of product type and total sale amounts, all 10 of the following American exports to Brazil in 2008 had triple-digit percentage sales increases from 2007.
- Complete military aircraft … US$30.4 million, up 10,046% from 2007
- Fuel oil … $653.5 million, up 1,331%
- Other coal and fuels … $61.9 million, up 551.2%
- Buses, trucks, special purpose vehicles … $21.1 million, up 535.5%
- Iron and steel mill products … $328.7 million, up 354.9%
- Wheat … $295.9 million, up 226%
- Railway transportation equipment … $530.5 million, up 210.9%
- Passenger cars … $145 million, up 176.2%
- Non-metallic minerals … $82.6 million, up 166.9%
- Food and tobacco machinery … $111.7 million, up 138.8%.
While Brazil shipped $2.2 billion worth of civilian aircraft to America in 2008, the U.S. exported more than twice that amount in American civilian aircraft sold to Brazil.
However, the rate of increase in Brazilian civilian aircraft sales to the U.S. at 33.6% was faster than the 22.6% gain in American exports of civilian aircraft to South America’s largest country.
This also suggests that Brazil has a strong comparative advantage in producing and exporting civilian aircraft.
Sources
This analysis is based on latest statistics from the US Census Bureau- Foreign Trade Statistics and CIA World Factbook as of the date of article publication.
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